Newfoundland Exploration Industry Faces Highest Taxes in Country; A heck of a way to treat your local heroes
As AIMS Fellow on Newfoundland Issues, Peter Fenwick says in this new piece, in 1996 Voisey's Bay discoverers Al Chislett and Chris Verbiski were Canadian prospectors of the year; feted in their home province of Newfoundland, and given honourary degrees from Memorial University. They were the home-grown boys who would lead Newfoundland to prosperity. But that most-favored-son status didn't last long. Today their exploration company, Archean has the dubious distinction of being the highest taxed company in Canada. The two prospectors are now considering moving their company to a lower taxation province.